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About Family / Divorce Attorney - How Can a Divorce Affect You Financially?



Living a stable married life gradually leads to the accumulation of wealth. An earning married couple meets its daily needs and sustains its livelihood financially. But, a divorce is a completely different ballgame. A divorce can destabilize a family mentally and financially. Children are also dragged into this mess and face many issues from a divorce. The magnitude of these issues can be lessened if you take timely legal help from your local attorney. If you live in Miami, you can contact a divorce attorney Miami to get all the necessary legal aid.

According to researchers, it is observed that individuals involved in a divorce have to increase their income substantially to meet their necessities and live a secured and sustained life. All the possessions, liquid assets, real estate stakes, and debt acquisitions have to be legally divided between the former couple. Consulting and taking assistance from a divorce lawyer Miami is advised. A divorce financially impacts the lives of every person in the family. The following are some ways that a divorce financially disrupts all family members.

1] Impact on women: It has been observed that divorce has a greater financial impact on women than men. This financial impact depends on various factors such as the income the woman used to earn before the divorce and how the couple is managing child care after the divorce. As a result of these factors, one out of five women become financially disrupted and even fall below the poverty line after the divorce. Property and child custody disputes vehemently occur after a divorce, and the majority of the time, women have to bear major losses. Many women who owned a home and earned a proper income become homeless after a divorce. Financially weaker women do not get full child custody payments from their former spouse. These ladies are also dependent on non-profit organizations and possible government aid to financially stabilize their lives and meet all the necessities after the divorce. If possible, get in touch with a Miami family attorney to get all your grievances and issues sorted out.

2] Impact on men: Even though in most divorce cases, women suffer major losses and face many grievances, men also face their share of mental and financial issues. Many men experience a huge drop in their living standards after a divorce if they have to pay for child custody and other legal settlements. According to research, it is observed that men who contribute less than 80% of the family’s total income suffer many financial setbacks after divorce. Also, many fathers are crucified by the state by directly extracting liquidity from their bank accounts for child custody, even if they face a decline in their income. Contact a family law attorney Miami to get proper assistance for dealing with these issues.

3] Impact on children: Children are greatly affected on a mental scale compared to the financial scale, even though many children lose insurance coverage and cannot get their medical expenses fulfilled. Also, as the single parent faces a loss in income, children cannot get adequate academic and extracurricular exposure. To prevent this from happening, contact Miami’s family law attorney.

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Location: 2 S Biscayne Blvd #2300, Miami, FL 33131, USA

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